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Global Stock Market Drivers; HUL, Reliance Industries Q3FY19 Results and Top Stocks in Action Today
Fri, 18 Jan Pre-Open | Rini Mehta, TM Team

On Thursday, the Indian share markets were trading in a narrow range in afternoon trade amid weakness in public sector banks (PSU) and pharmaceuticals stocks.

At the closing bell, the Sensex ended up 53 points at 36375, while Nifty was up 15 points at 10,905.

HCL Tech and Axis Bank were the top gainers on the Sensex, while top losers were Sun Pharma and Yes Bank.

The rupee moved in a range of 71.09-71.37 against the US dollar. The domestic unit had settled at 71.24 against the greenback on Wednesday.

Top Stocks in Focus

L&T share price will be in focus today as Larsen & Toubro (L&T) Hydrocarbon Engineering has bagged two projects from the world's largest oil company Saudi Aramco.

Federal Bank reported a 28% rise in its year-on-year net profit for the December quarter at Rs 33.4 billion from Rs 2.6 billion last year.

Bharat Heavy Electricals Limited will set up a network of Solar-based Electric Vehicle Chargers (SEVC) on the Delhi-Chandigarh Highway. The project is covered under the Faster Adoption and Manufacturing of Electric Vehicles in India of the Department of Heavy Industry (DHI).

Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market Acetazolamide ER Capsules. It will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad. Cadila Healthcare will be in focus.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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Results Corner

L&T Infotech, Dhanlaxmi Bank, Kajaria Ceramics, Wipro, MPS, Atul, HUL, Reliance Industries are among a few companies that will report its Q3FY19 results today.

Global Stock Market Drivers

On Thursday, US equity futures and European shares fell after a mixed session in Asia as concerns about rising tension between America and China offset signs of a better-than-expected start to the earnings season.

Further, emerging market currencies and shares declined. Shares in Hong Kong tumbled, with some companies dropping more than 75%.

The dollar was steady, and Treasuries edged higher.

Here are some key events coming up:

  • Earnings season rolls on with Morgan Stanley and Netflix posting results.
  • Data on US jobless claims and industrial production are due.
  • Eurozone inflation is scheduled today

Oil Prices Slide

Oil prices dipped on Thursday as US crude production quickly approached an unprecedented 12 million barrels per day (bpd) just as worries about weakening demand emerge.

US West Texas Intermediate (WTI) crude futures were at US$52 per barrel, down 0.6%, from their last settlement.

International Brent crude oil futures were down 0.6%, at US$60.98 per barrel.

American crude oil production reached a record 11.9 million bpd in the week ending January 11, the Energy Information Administration (EIA) said on Wednesday, up from 11.7 million bpd last week, which was already the highest national output in the world.

Note that, US output has soared by 2.4 million bpd since January 2018, stoking fears of a supply glut.

From the IPO Space...

As per an article in a leading financial daily, after a three-month drought in the Indian primary market, several companies, including cables and consumer electronic goods maker Polycab Wires Pvt. Ltd and hotel operator Chalet Hotels Ltd, are gearing up for their public offers.

Besides, Polycab and Chalet Hotels, Harsha Engineers Ltd, Dodla Dairy Ltd and Indiamart Intermesh Ltd are also looking to launch IPOs.

The Indian equity markets witnessed extreme ups and downs during the three months owing to the liquidity crisis in the NBFC space, macroeconomic headwinds, such as a depreciating rupee and high crude price, and concerns over state election results.

With so many IPOs set to hit the markets, we at Equitymaster believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs.

If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

To know how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

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Stock Market Updates

Indian Indices End on a Flat Note; Metal & Auto Stocks Outperform (Today's Market)

Feb 22, 2019 Closing

Indian share markets end the day on a flat note with the BSE Sensex down by 27 points, while the NSE Nifty closed up by 2 points.

Most Active Small-Cap Stocks Today; JUBILANT FOODWORKS the Most Traded (Today's Market)

Feb 22, 2019 03:55 PM

Here's a list of most active small-cap stocks today. It also includes information on BSE Smallcap index and the broader benchmark indices.

Top 5 Mid-Cap Gainers Today; SHRIRAM CITY UNION Leads the Pack (Today's Market)

Feb 22, 2019 03:55 PM

Here's a list of 5 stocks that gained the most in the BSE Mid-Cap Index today. It also includes information on BSE Mid-Cap index and the broader benchmark indices.

AIA ENGINEERING Surges by 5%; BSE CAPITAL GOODS Index Up 0.3% (Today's Market)

Feb 22, 2019 03:32 PM

AIA ENGINEERING share price has surged by 5% and its current market price is Rs 1,730. The BSE CAPITAL GOODS is up by 0.3%. The top gainers in the BSE CAPITAL GOODS Index are AIA ENGINEERING (up 5.3%) and SUZLON ENERGY (up 34.8%). The top losers are LAKSHMI MACHINE and ABB INDIA LTD. (down 0.1%).

FDC LTD. Surges by 5%; BSE HEALTHCARE Index Up 0.6% (Today's Market)

Feb 22, 2019 03:28 PM

FDC LTD. share price has surged by 5% and its current market price is Rs 157. The BSE HEALTHCARE is up by 0.6%. The top gainers in the BSE HEALTHCARE Index are FDC LTD. (up 5.0%) and BLISS GVS PHARMA (up 5.2%). The top losers are TORRENT PHARMA and FORTIS HEALTHCARE (down 0.2%).

HOUSING DEV. INFRA Surges by 6%; BSE REALTY Index Up 1.3% (Today's Market)

Feb 22, 2019 03:18 PM

HOUSING DEV. INFRA share price has surged by 6% and its current market price is Rs 24. The BSE REALTY is up by 1.3%. The top gainers in the BSE REALTY Index is HOUSING DEV. INFRA (up 5.8%). The top losers is SOBHA LIMITED (down 0.3%).

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